Author Topic: CHASE closed ALL accounts!!!!!!!  (Read 14295 times)

Offline mutchkie1

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CHASE closed ALL accounts!!!!!!!
« on: May 30, 2019, 03:29:56 PM »
I just wanted you to be aware of something crazy. I have 5 Chase accounts (Presidential Plus, Marriott, Saphire, IHG and BA). Today I went to the gas station to fill up my car and my card was declined. I tried another card and it was declined again. I went home and called Chase to find out why. It turns out they closed all my accounts yesterday. I asked them why? I am a lawyer/cpa with a credit rating of approximately 835. It made no sense. The representative said because on review Chase felt that the current monthly charges were much higher than usual and when they close one account, they close all. On my Saphire account ending 3743, I have a $25,000 credit limit. I wanted to buy gold coins, 3 transaction each for $13,000, a total of $39,000. Since I have a $25,000 credit limit, I knew it wouldn't work. So, I previously mailed Chase a check of $50,000. After the check had cleared my bank, I now had a $50,000 credit on my Chase account. When I made the first $13,000 transaction, I received a fraud alert to which I replied that it was me making the purchase. At the end of the day, I bought $39,000 of gold leaving a credit balance of $11,000. The following week or two, I charged an additional $3,000. Total, I have a credit balance of nearly $8,000. Chase owes ME money. I don't owe them. I have a credit balances on 3 of the other 4 accounts. My Presidential Plus card has a balance of $44 but its not due as my last stmt had a zero balance. Supervisor is supposed to call me but I am very very upset. This will kill my credit rating and I will have to change c/c for my phone, etc.

Any suggestions?
« Last Edit: May 30, 2019, 04:17:13 PM by mutchkie1 »

Offline ~King Lake~

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Re: CHASE closed ALL accounts!!!!!!!
« Reply #1 on: May 30, 2019, 03:35:34 PM »
I just wanted you to be aware of something crazy. I have 5 Chase accounts (Presidential Plus, Marriott, Saphire, IHG and BA). Today I went to the gas station to fill up my car and my card was declined. I tried another card and it was declined again. I went home and called Chase to find out why. It turns out they closed all my accounts yesterday. I asked them why? I am a lawyer/cpa with a credit rating of approximately 835. It made no sense. The representative said because on review Chase felt that the current monthly charges were much higher than usual and when they close one account, they close all. On my Saphire account ending 3743, I have a $25,000 credit limit. I wanted to buy gold coins, 3 transaction each for $13,000, a total of $39,000. Since I have a $25,000 credit limit, I knew it wouldn't work. So, I previously mailed Chase a check of $50,000. After the check had cleared my bank, I now had a $50,000 on my Chase account. When I made the first $13,000 transaction, I received a fraud alert to which I replied that it was me making the purchase. At the end of the day, I bought $39,000 of gold leaving a credit balance of $11,000. The following week or two, I charged an additional $3,000. Total, I have a credit balance of nearly $8,000. Chase owes ME money. I don't owe them. I have a credit balances on 3 of the other 4 accounts. My Presidential Plus card has a balance of $44 but its not due as my last stmt had a zero balance. Supervisor is supposed to call me but I am very very upset. This will kill my credit rating and I will have to change c/c for my phone, etc.

Any suggestions?
always have accounts with more then one bank!! specially if you use chase, i use chase but have accounts by apple bank, capitol one.
I'm going crazy, wanna come along?

Offline Denverite

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Re: CHASE closed ALL accounts!!!!!!!
« Reply #2 on: May 30, 2019, 03:37:44 PM »
I just wanted you to be aware of something crazy. I have 5 Chase accounts (Presidential Plus, Marriott, Saphire, IHG and BA). Today I went to the gas station to fill up my car and my card was declined. I tried another card and it was declined again. I went home and called Chase to find out why. It turns out they closed all my accounts yesterday. I asked them why? I am a lawyer/cpa with a credit rating of approximately 835. It made no sense. The representative said because on review Chase felt that the current monthly charges were much higher than usual and when they close one account, they close all. On my Saphire account ending 3743, I have a $25,000 credit limit. I wanted to buy gold coins, 3 transaction each for $13,000, a total of $39,000. Since I have a $25,000 credit limit, I knew it wouldn't work. So, I previously mailed Chase a check of $50,000. After the check had cleared my bank, I now had a $50,000 on my Chase account. When I made the first $13,000 transaction, I received a fraud alert to which I replied that it was me making the purchase. At the end of the day, I bought $39,000 of gold leaving a credit balance of $11,000. The following week or two, I charged an additional $3,000. Total, I have a credit balance of nearly $8,000. Chase owes ME money. I don't owe them. I have a credit balances on 3 of the other 4 accounts. My Presidential Plus card has a balance of $44 but its not due as my last stmt had a zero balance. Supervisor is supposed to call me but I am very very upset. This will kill my credit rating and I will have to change c/c for my phone, etc.

Any suggestions?


I feel bad for you because you really tried to do everything right here but because of the large amount of activity from swiping schemes and fraud issues with buying groups, this does seem to be common and from others' posts Chase won't reopen the accounts.  Those gold purchases most definitely seem like the culprit, even if they weren't actually for a buying group.

Online grodnoking

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Re: CHASE closed ALL accounts!!!!!!!
« Reply #3 on: May 30, 2019, 04:46:09 PM »
I just wanted you to be aware of something crazy. I have 5 Chase accounts (Presidential Plus, Marriott, Saphire, IHG and BA). Today I went to the gas station to fill up my car and my card was declined. I tried another card and it was declined again. I went home and called Chase to find out why. It turns out they closed all my accounts yesterday. I asked them why? I am a lawyer/cpa with a credit rating of approximately 835. It made no sense. The representative said because on review Chase felt that the current monthly charges were much higher than usual and when they close one account, they close all. On my Saphire account ending 3743, I have a $25,000 credit limit. I wanted to buy gold coins, 3 transaction each for $13,000, a total of $39,000. Since I have a $25,000 credit limit, I knew it wouldn't work. So, I previously mailed Chase a check of $50,000. After the check had cleared my bank, I now had a $50,000 credit on my Chase account. When I made the first $13,000 transaction, I received a fraud alert to which I replied that it was me making the purchase. At the end of the day, I bought $39,000 of gold leaving a credit balance of $11,000. The following week or two, I charged an additional $3,000. Total, I have a credit balance of nearly $8,000. Chase owes ME money. I don't owe them. I have a credit balances on 3 of the other 4 accounts. My Presidential Plus card has a balance of $44 but its not due as my last stmt had a zero balance. Supervisor is supposed to call me but I am very very upset. This will kill my credit rating and I will have to change c/c for my phone, etc.

Any suggestions?
File with the CFPB.
I'm not who you think I am.

Offline KSMH

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Re: CHASE closed ALL accounts!!!!!!!
« Reply #4 on: May 30, 2019, 05:29:05 PM »
I think they dont like when people overpay on their bill.
Always praying for delayed baggage.

Offline ludmila

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Re: CHASE closed ALL accounts!!!!!!!
« Reply #5 on: May 30, 2019, 06:01:07 PM »
Basically, for most people the high credit limits are a bluff, I learned this long ago, like with Amex charge cards , many years ago I purchased over $100000 in gold coins, I called and got approval for the purchases , a month later they started declining any high charges although the balance was paid in full. Had a similar problem with Citi too. 
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Offline Denverite

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Re: CHASE closed ALL accounts!!!!!!!
« Reply #6 on: May 30, 2019, 10:54:51 PM »
Basically, for most people the high credit limits are a bluff, I learned this long ago, like with Amex charge cards , many years ago I purchased over $100000 in gold coins, I called and got approval for the purchases , a month later they started declining any high charges although the balance was paid in full. Had a similar problem with Citi too.

You think itís the credit limit usage, not the gold? Even if someoneís not doing buying groups, itís so easy to use for money laundering, etc. they have to have flags in their system for those kind of merchants/sales.

Offline ckmk47

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Re: CHASE closed ALL accounts!!!!!!!
« Reply #7 on: May 30, 2019, 11:26:23 PM »
Instead of prepaying, had he called Chase in advance and asked for a temporary credit line increase and told them to expect these purchases, Would he have been safe(r)?

Offline ludmila

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Re: CHASE closed ALL accounts!!!!!!!
« Reply #8 on: May 30, 2019, 11:27:42 PM »
You think itís the credit limit usage, not the gold? Even if someoneís not doing buying groups, itís so easy to use for money laundering, etc. they have to have flags in their system for those kind of merchants/sales.
Yes , it could be.
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Offline ckmk47

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Re: CHASE closed ALL accounts!!!!!!!
« Reply #9 on: May 30, 2019, 11:28:10 PM »
BTW: https://forums.dansdeals.com/index.php?topic=93522.0
was started a year ago, for the same problem.

Offline Denverite

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Re: CHASE closed ALL accounts!!!!!!!
« Reply #10 on: May 30, 2019, 11:43:15 PM »
Yes , it could be.

Interesting...

Offline gingyguy

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Re: CHASE closed ALL accounts!!!!!!!
« Reply #11 on: May 30, 2019, 11:51:42 PM »
BTW: https://forums.dansdeals.com/index.php?topic=93522.0
was started a year ago, for the same problem.
Chase A/A Master Thread was started closer to 8 years ago... but its fun to open new threads
May you slide down the banister of happiness & get many splinters of success up your career.

Offline mutchkie1

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Re: CHASE closed ALL accounts!!!!!!!
« Reply #12 on: May 31, 2019, 08:09:43 AM »
If they are worried about money laundering then just don't allow gold purchases on c/c. I bought strictly as investment as I have over the last 5 years!

Offline LoLo

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Re: CHASE closed ALL accounts!!!!!!!
« Reply #13 on: May 31, 2019, 09:32:28 AM »
Perhaps they don't want you to use their credit card for investments either.

Also, prepaying is a red flag.

Offline mutchkie1

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Re: CHASE closed ALL accounts!!!!!!!
« Reply #14 on: June 02, 2019, 05:25:30 PM »
Spoke to supervisor - what I was able to gather is the purchase of gold coins or bars using a credit card is deemed to be an unauthorized transaction and, therefore, justifies card closing. Her words were basically "we do not authorize the use of our credit card for making investments". She repeatedly asked why I used a credit card than paying by check. I asked her why do I pay my a/c guy by credit card rather than check. Convenience and points. At the end of the year, I receive an expense report showing all my transactions by category. I also told her with gold purchase from Apmex, I would have to either wire them or have them receive a check within 3-5 days of purchase. Then they would have to deposit check and even though it clears my bank in a day, they would wait 5 days. Then after the 5 days they would sort the order and the following day ship the order. I save at least 7 business days using a credit card!